RE:B2Gold Invests C$12.1 Million in Founders Metals Clive Johnson, B2Gold's President & CEO added, "This investment continues B2Gold's strategy of identifying and investing early in discoveries with Tier 1 potential. The rigorous exploration efforts undertaken by Founders' technical and management team have clearly highlighted the district-scale potential of the Antino Gold Project. We look forward to lending our strong technical expertise and experience to support the Founders' team as they continue to define Antino's upside."
Pursuant to the Strategic Investment, B2Gold has agreed to purchase 4,400,000 Shares at a price of C$2.75 per Share on a private placement basis for gross proceeds of C$12,100,000. The Shares will be subject to a four month hold period from the date of issue. Further, the Company and B2Gold will enter into an investor rights agreement, including rights related to B2Gold increasing their ownership to a maximum of 9.9%, rights related to technical collaboration on the Antino Gold Project, and the opportunity to jointly collaborate on new prospects in the Guiana Shield.